Marshall, Gerstein & Borun LLP is pleased to announce that it took top honors in three categories at the...
MINISO was officially set up in Mexico in December 2016, and has opened 76 stores so far, which is expected to open 95 stores in all by the end of 2018. With a wide range of commodities at affordable prices, MINISO quickly captured local consumers’ hearts and became one of the favorite places for locals to go.
For realizing the goal of “opening ten thousand stores in one hundred countries with one hundred billion sales volume”, MINISO has increased expansion in the global market and has opened over 1,000 stores overseas. Mexico is one of the most important markets for MINISO’s globalization strategy. In the first half of MINISO’s 2018 global new stores ranking, Mexico ranked the first.
Mexico is a competitive market. Many world’s renown brands such as Amazon, Wal-Mart and Alibaba have invested heavily in Mexico. However, MINISO opened up the market with its core value of “high quality but low-price”, bringing a certain amount of pressure to local retail brands.
Influenced by the United States, Mexicans have a forward view of consumption and a high degree of acceptance of foreign products. Mexicans enjoy living in the moment, regardless of their social class. MINISO has become one of the favorite places for locals to go.
The mainstream consumers of MINISO are women aged between 18 and 35. The categories of electronics, cosmetics, household products and toys are relatively popular in the Mexican market.
In Mexico, MINISO attaches great importance to the operation of social media and helps people fall in love with MINISO through the content generated on social media.